Tuesday, June 29, 2010

Today’s Big Losers (SIRI, Micron, AMZN, FLEX)

Sirius XM Radio Inc. (NASDAQ:SIRI) dropped 7.67% to $0.970. Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. The Company is engaged in broadcasting its music, sports, news, talk, entertainment, traffic and weather channels in the United States for a subscription fee through its satellite radio systems, the SIRIUS system and the XM system.
Micron Technology, Inc. (NASDAQ:MU) lost 12.67% to $8.75 on 68.49 million shares. Late Monday, Micron reported strong third-quarter earnings and sales, but hinted at flat growth in the fourth quarter for its DRAM chips, which are used throughout the personal-computer market. Micron Technology, Inc. is a global manufacturer and marketer of semiconductor devices, principally dynamic random access memory (DRAM) and Nandi Flash memory (NAND).
Amazon.com, Inc. (NASDAQ:AMZN) decreased 5.82% to $110.94 on 7.01 million shares, a day after Susquehanna analyst Marianne Wolk cut her rating on the stock over concerns about competition for Amazon’s Kindle e-book reader.
Flextronics International Ltd. (NASDAQ:FLEX) is trading 8.27% lower to $5.66 on a volume of 10.71 million shares after Ticonderoga Securities analyst Brian White cut the rating on the stock to neutral from buy.

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